[ChrisRL]

In the world of Formula car racing, the top of the pile is Formula 1.
These cars are very few and far between, and of course, cost a lot of money to own and operate. Spare parts are custom made, one by one.

The bottom of the pile is Formula V.
These cars are plentiful, the major component parts are restricted to stock 1975 model Volkswagen air-cooled parts, the wheels are restricted to the stock tall and skinny ones. They are relatively plentiful and cheap to buy, cost very little to buy and maintain, and spare parts are numerous and still quite readily available. Lots of wheel-to-wheel competition, since the cars are matched up evenly by the restrictions of the formula, whereas in the other classes, races are pretty much a procession, with the most expensive classes leading the pack.

So.
How much money do you want to spend, and how fast do you want to go?